New Delhi has announced a series of concessions for the least developed countries. Addressing the inaugural session of the Ministerial level conference of these countries in New Delhi today the External Affairs Minister Mr. S.M. Krishna said that each least developed country will get five additional scholarships under Indian Technical and Cooperation programme every year. He also announced setting up of five million dollar fund for United Nations least developed countries programme and another five hundred million line up credit for projects and programmes. This credit will be provided in a period of five years. The Minister added that India has extended a comprehensive scheme for duty and quota free treatment to imports from the least developed countries and our focus of partnership with these countries has been capacity building. He added that cumulative value of lines of credit to least developed countries since 2003 is 4.3 billion US dollars and a significant part of this has been already utilised. Mr. Krishna said that Indian public and private companies have made investments worth 35 billion US dollars in these countries. Renewing India's pledge to the cause of these countries Mr. Krishna said that concerted efforts of some least developed countriels coupled with international support have resulted in high growth in some of these countries but overall the situation continues to be fragile. The Minister said that the share 48 least developed countries in global trade is mere one percent and the situation has further complicated by the rapidly expanding urban population and decling agricultural productivity. Mr. Krishna said that South South Cooperation is the corner stone of India's foreign policy and maintained that India is keen to continue to augument the development cooperation initiatives with these countries. He expressed confidence that the two day conference will be meaningful to seek solutions of the problems faced by these countries and will serve as a useful input for the Istanbul conference to be held later this year.